Alibaba denies capital plan

Alibaba's vice finance president Ren Bingzheng said Wednesday in Hong Kong that the group has no plan to inject any capital for a backdoor listing, and also does not plan to inject assets into CITIC 21CN Co, a subsidiary of CITIC Group.

Ren said the latter is because Alibaba's related purchase of shares in the CITIC Group subsidiary has not been completed as yet.

Ren's remarks were made after Alibaba teamed with Yunfeng Fund to offer HK$1.33 billion ($171.23 million) for 4.42 billion shares of CITIC 21CN late last month, which ignited rumors of a "backdoor listing."

Ren also said Alibaba still does not have the time schedule of getting listed, and has not decided where to get listed.